KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Key Takeaway: Foxconn anticipates robust demand for AI servers in 2024 , bolstering sales growth, while delaying its electric vehicle (EV) market target due to slowing demand. Foxconn, the world’s largest contract electronics maker, forecasts significant sales growth in AI servers for 2024, projecting that AI servers will make up 50% of its total server revenue next year. This optimism comes as the company diversifies production amid US-China trade tensions and potential new tariffs under President-elect Trump. Foxconn is expanding operations in India, the US, Mexico, and Vietnam to mitigate risks associated with its China-based facilities. Highlights: AI Demand Surge: Foxconn, a key supplier to Nvidia, expects to capture at least 40% of the global AI server market . The company is building a large Mexico facility to bundle Nvidia’s advanced GB200 superchips. Record Sales: October marked Foxconn’s highest sales for the month, and the company projects year-on-year revenue growth ...